NVIDIA CORP Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by NVIDIA Corporation on March 13, 2017, covering events occurring on March 7, 2017. The report details the adoption of the Variable Compensation Plan for Fiscal Year 2018 by the Compensation Committee of the Board of Directors. NVIDIA operates on a fiscal year ending on the last Sunday in January; therefore, Fiscal Year 2018 ends on January 28, 2018.
Key Financial Metrics
The filing does not provide revenue, profit, cash flow, margins, debt, or liquidity figures. The document focuses exclusively on executive compensation structures.
Material Changes
The primary material change reported is the formal adoption of the 2018 Variable Compensation Plan. This plan establishes a framework for eligible executive officers to earn variable cash payments based on the achievement of specified corporate performance goals, primarily tied to Fiscal Year 2018 revenue targets. The plan defines threshold, base operating plan, and stretch operating plan levels.
Guidance, Outlook, and Management Commentary
Management has established performance goals for Fiscal Year 2018 based on revenue achievement, though specific revenue targets are not disclosed in this summary text. Eligibility for the variable cash compensation requires the participant to remain an employee through the payment date. The full text of the 2018 Plan is filed as Exhibit 10.1.
Executive Compensation Details
| Named Executive Officer | Title | Base Operating Plan Payment Amount | % of FY2018 Base Salary |
|---|---|---|---|
| Jen-Hsun Huang | President and CEO | $1,100,000 | 110% |
| Colette M. Kress | EVP and CFO | $300,000 | 33% |
| Ajay K. Puri | EVP, Worldwide Field Operations | $650,000 | 68% |
| Debora Shoquist | EVP, Operations | $250,000 | 29% |
| Timothy S. Teter | SVP, General Counsel and Secretary | $250,000 | 29% |
Key Facts for Investor Verification
- Verify the specific revenue thresholds and stretch targets defined in the full text of Exhibit 10.1 (Variable Compensation Plan - Fiscal Year 2018).
- Confirm the exact payment date for the variable compensation to assess the employment retention requirement.
- Review the Compensation Committee's discretion regarding adjustments to the plan or payment amounts.
- Note that this filing contains no financial performance data for the period; refer to the most recent 10-K or 10-Q for financial metrics.